Public Notices PROSPECTUS OF THE Kaiapoi Woollen Manufacturing Company, Limited. CAPITAL, £IOO,OOO, IN 4000 SHARES (F £25 EACH. DIRECTORS ; Isaac Wilson, Esq., Chairman, G. H. Blackwell, Esq., E. Parnham, Esq., And Two to be Elected after the Allotment of New Shares. BANKERS : Bank of New Zealand. SOLICITORS : Messrs. Garrick and Cowlxshaw. Registered Office ... ... ... ... Charles Street, Kaiapoi. THIS Company was established in July, 1878, with a capital of £15,000 in 15 shares of £I,OOO each, to carry on the business of Woollen Manufacturers, and accepted the offer of the Hon, J. T. Peacock, for the purchase of the Premises and Plant of _ the Canterbury Spinning, Weaving, and Fibre Company at about half its original cost, since which, considerableadditions have from timeto timebeen made tothe buildings andplant, the latter now comprising four sets of Carding Engines, and thirty-five Looms with necessary machinery, which, with the addition of machinery just arrived, makes the plant veil-proportioned and very complete. The sum of £1,200 has been paid since stock-taking, for last additions to buildings and machinery just received per Loch Awe. The Manufactory, with the addition of the machinery per Loch Awe, though complete in itself, will not however enable the Company to meet the greatly increased demand which has arisen for their goods, although, as hitherto, continuing to run a large portion of the machinery night and day, and having conclusively proved that the present heads of departments are capable of working a Mill twice the size of the present one at a saving of at least £2,000 a year on the general working of the Company’s business, they have with a view to providing extended premises and appliances, decided to increase the Capital from £15,000 to £IOO,OOO, the whole to be represented by 4000 shares of £25 each, of which the existing shareholders will be entitled to 825 fully paid up, in exchange for the shares now held by them (including the accumulated profit thereupon amounting to £3,744) ; of the residue, the Directors propose to issue at present only 1,600. The increased capital will bo applied to the following purposes, viz Paying off existing mortgage of £7,400 ; enlarging present premises and plant; establishing premises in Christchurch ; and for the general purposes of the Company. , The following may be enumerated among the special advantages in favor of Shareholders, viz.:—The original plant was purchased at about half-cost, the staff is how well-trained and efficient, which will obviate the difficulties and avoid a repetition of the losses experienced during the first eighteen months of the Company’s operations; while the whole of the dead stock was cleared out previous to stock-taking, July Ist, 1880. A good and safe-business has been developed, which is steadily increasing, and is capable of being worked up to a much greater extent. All the risks and expenses connected with the formation of a new company will be avoided, and, as can be seen by a perusal of the last balance-sheet, the new Shareholders will at once enter into possession of a good paying concern. The present Shareholders shew their faith in the concern in the most practical manner possible by taking the amount of £3,744 (accumulated profit, equal to 16 per cent, per annum on the paid up Capital) in fully paid up shares, instead of drawing the amount which they are entitled to do. The Company now offers to investors an opportunity to develop a Colonial Industry which has established for itself a good reputation ' and meets with popular support, and which will, it is expected, shortly employ about 400 hands, and at the same time securing to Shareholders a good return for the Capital invested. Intending Shareholders can obtain any information, with an order to view the Factory, from the Directors, or on application at the Office of the Company. The Share List will close on October Ist, 1880. In making the allotment the Directors will take into consideration the order in) which the applications are made. The sum of £1 per share will be payable on application ; £2 10s. per share on allotment ; and the balance in calls of not more than 50s. per share at intervals of not less three months. In this manner the time for fully paying up will be extended to not less than two years and three months. All Applications with £1 per share deposit, to be forwarded to the Chairman of Directors not later than October Ist, 1880.
BALANCE SHEET, JUNE 30, 1880. STATEMENT OF PROFIT AND LOSS ACCOUNT, Examined and found correct. W. P. WILSON, Auditor. Forms of Application may be obtained by applying, either personally or by letter, at the Offices of the Company. ISAAC WILSON, 123 g ' Chairman of Directors. ASHBURTON HAIRCUTTING ROOMS. IMPORTANT NOTICE. R. E. A. GARNETT begs to inform the inhabitants of Ashburton and surrounding districts that he has DISPOSED of his BUSINESS to Mr. F. CLARK, of Christchurch, and while thanking them for the liberal support accorded to him during his residence here, would solicit a continuance of the same on behalf of his successor. Referring to the above, F. CLARK hopes, by strict attention to business and moderate charges, to merit a fair share of public support. F. CLA RK , HAIRDRESSER, TOBACCONIST, STATIONER, AND FANCY GOODS MERCHANT, Ashburton. Agent for the sale of the Ashburton Guardian and Evening Serald. 725c-92g IN BANKRUPTCY. W'BEKS & DIXON have on Sale a their Office, East Street North,--ASHBURTON BOROUGH COUNCIL. PERSONS desirous of LEASING TOWN RESERVES are requested to make application to the Town Clerk for same, after which they will be submitted to public auction. CHARLES BRADDELL, Town Clerk. Borough Council Office, 13th August, 1880. 125 g W. H. BRISTOW, GOVERNMENT SURVEYOR, Licensed Under Land Transfer Act. Ford and Newton’s Buildings, (next County Council offices, Hereford street, Christchurch. 104 g FARMERS ! FARMERS ! FARMERS ! R. McKERROW AND CO., RE Cash Purchasers of Wool, Grain, and all kinds of Farm Produce, and are Iso prepared to make Liberal CASH ADVANCES on the above placed in their hands either for sale .or shipment to the English or Colonial Markets. PROOFS OF DEBT FORMS, FORMS OF AFFIDAVIT. Also, — FORMS OR TO LET ANb FOR SALE. T7INVELOPBS, NOTEPAPER, ENVELOPES, NOTE PAPER.—The cheapest ever offered in Ashburton, at the Herald Office, Wholesale Stationery L e pot, Saunders’ Buildings. A Large Stock of Cornsacks, Woolpacks, &c., for sale at lowest current prices. R. McKERROW & CO., GRAIN MERCHANTS, RAKAIA. 36 -C~B A AAA TO LEND, in sums to suit borrowers, at lowest rate of interest. F.- P, O’Reilly, Solicitor, Ashburton. 424c-8300
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Ashburton Guardian, Ashburton Guardian, Volume 1, Issue 141, 19 August 1880
Page 3 Advertisements Column 4 Ashburton Guardian, Volume 1, Issue 141, 19 August 1880
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